General Maritime to Sell Tankers

Monday, February 13, 2006

General Maritime Corp said it would sell nine OBO Aframax tankers to Tanker Pacific for $247.5 million to fund its paying down of debt and other corporate purposes. The company, which will realize a net gain of $16.6 million from the sale, also said it planned to close its technical office in Piraeus, Greece. (Source: Reuters)